Deprince Race & Zollo Inc. lifted its stake in shares of Catchmark Timber Trust Inc (NYSE:CTT) by 4.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,553,264 shares of the financial services provider’s stock after acquiring an additional 161,852 shares during the quarter. Deprince Race & Zollo Inc. owned approximately 7.25% of Catchmark Timber Trust worth $25,228,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. NEXT Financial Group Inc bought a new position in Catchmark Timber Trust in the 3rd quarter worth approximately $103,000. State of Alaska Department of Revenue bought a new position in Catchmark Timber Trust in the 3rd quarter worth approximately $179,000. Meeder Asset Management Inc. bought a new position in Catchmark Timber Trust in the 4th quarter worth approximately $199,000. Dynamic Technology Lab Private Ltd bought a new position in Catchmark Timber Trust in the 3rd quarter worth approximately $204,000. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in Catchmark Timber Trust by 51.9% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 19,600 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 6,700 shares during the period. Institutional investors own 81.97% of the company’s stock.
Several research analysts have weighed in on CTT shares. ValuEngine upgraded Catchmark Timber Trust from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Citigroup started coverage on Catchmark Timber Trust in a research note on Tuesday, November 20th. They issued a “neutral” rating and a $10.50 price target for the company. Zacks Investment Research downgraded Catchmark Timber Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, November 7th. B. Riley dropped their price target on Catchmark Timber Trust to $12.00 and set a “buy” rating for the company in a research note on Wednesday, November 14th. Finally, TheStreet downgraded Catchmark Timber Trust from a “c-” rating to a “d” rating in a research note on Tuesday, November 6th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Catchmark Timber Trust has a consensus rating of “Buy” and a consensus target price of $11.46.
Shares of CTT opened at $8.86 on Thursday. The company has a market cap of $438.82 million, a PE ratio of -26.06 and a beta of 0.96. Catchmark Timber Trust Inc has a 1 year low of $6.71 and a 1 year high of $13.73. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.02 and a current ratio of 1.02.
Catchmark Timber Trust (NYSE:CTT) last issued its quarterly earnings data on Friday, November 2nd. The financial services provider reported ($1.61) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.59) by $1.98. The business had revenue of $24.58 million for the quarter, compared to analysts’ expectations of $23.04 million. Catchmark Timber Trust had a negative return on equity of 20.93% and a negative net margin of 90.95%. As a group, equities analysts forecast that Catchmark Timber Trust Inc will post -2.46 EPS for the current fiscal year.
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Catchmark Timber Trust Profile
CatchMark Timber Trust, Inc (NYSE: CTT) is a self-administered and self-managed, publicly-traded timberland REIT that strives to deliver superior risk-adjusted returns for all stakeholders through disciplined acquisitions, sustainable harvests, and well-timed real estate sales. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in over 1.6 million acres of timberlands located in Alabama, Florida, Georgia, Louisiana, North Carolina, Oregon, South Carolina, Tennessee and Texas.
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